Five Key Components of Managing Supplier Contracts

Five Key Components of Managing Supplier Contracts

Vijay Parekh, Senior Director of Delivery, Contract Compliance

Apr 2 2020 | 31 mins

Procuring materials and indirect services involves ever-greater complexities in the global supply chain and risks that can impact profits. Organisations devote significant time and effort to negotiating complex supplier contracts, however; once contracts are in place, often customers assume they’re getting the value that they were promised. Through the forensic audit of a contract and examples of a good audits right clause, the importance and often under-estimated revenue benefits of a contract compliance program will be outlined.

In this webinar, attendees will learn 5 tips for best practices when renegotiating supplier contracts:

  1. Get the language right
  2. Make sure both parties understand and acknowledge the commercial terms
  3. Accountability and responsibility
  4. Strong Governance
  5. Relationships are important

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